1. (1) Unless a person is licensed under this chapter, it is unlawful for the person to do the following with respect to real estate located in this state:

   1. (a) engage in the business of a principal broker, associate broker, or sales agent;
   2. (b) act in the capacity of a principal broker, associate broker, or sales agent;
   3. (c) advertise or assume to act as a principal broker, associate broker, or a sales agent; or
   4. (d) on or after January 1, 2027, engage in property management.

2. (2) Except as provided in Section 61-2f-202, an individual is required to be licensed as a principal broker, associate broker, or a sales agent if the individual performs, offers to perform, or attempts to perform one act for valuable consideration of:

   1. (a) buying, selling, or exchanging real estate for another person; or
   2. (b) offering for another person to buy, sell, or exchange real estate.

3. (3) Except as provided in Section 61-2f-202.5, unless an individual is licensed as a principal broker, associate broker, sales agent, dual broker, or property manager, an individual may not, for consideration:

   1. (a) engage in property management; or
   2. (b) offer to engage in property management on behalf of another person.

4. (4) An individual licensed as a property manager under this chapter:

   1. (a) may do the following for one or more residential rental units:

      1. (i) engage in property management;
      2. (ii) offer to engage in property management on behalf of another person; or
      3. (iii) advertise or otherwise hold the individual out to be engaged in property management; and
   2. (b) may not engage in an activity listed in Subsection (4)(a) in relation to real estate other than a residential rental unit.

Amended by Chapter 142, 2026 General Session